Home Buying in Waldo>Question Details

Chawenshi, Both Buyer and Seller in Jersey City, NJ

WALDO Lofts: Good Investment or Not? I am looking at a lower level unit in WALDO Lofts for an investment and

Asked by Chawenshi, Jersey City, NJ Wed Jul 9, 2008

was hoping to get some opinions on it. My primary concern is the new Harbor Lights building going in on the south side. In my opinion Harbor Lights will increase the value of all units in Waldo no matter the level. I fail to see how Harbor Lights will decrease Waldo’s value. I have bulleted my reasons for my opinion below. I would appreciate your feedback/opinion and if you think my analysis in correct or not.

1. The New Harbor Lights Building will block no sunlight into lower Waldo units because of height and the Waldo units are facing directly south
2. The view will not be diminished because there was no view to begin with. I would rather look at a courtyard then a building rooftop or vacant land.
3. Any new building with commercial space in the PAD neighborhood is going to increase property value. Remember the PAD is not fully established yet so home values have room to grow. Any new addition the PAD will help this growth

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Answers

2
In the long run, you'll probably be fine -- unless the units in the new building are comparable to WLs and priced the same or lower. In the short run, being on a low floor when there is construction next door can be a bit disruptive.

Joan Prout, MBA
Broker Associate
RE/MAX Villa REALTORS
Jersey City, NJ
mailto:Joan@JoanProut.com
800-671-0596x1
Joan Prout, MBA
Broker Associate
RE/MAX Villa REALTORS
Jersey City, NJ
mailto:Joan@JoanProut.com
800-671-0596x1
Web Reference: http://www.JoanProut.com
1 vote Thank Flag Link Wed Jul 9, 2008
I feel it's a good investment.
0 votes Thank Flag Link Wed Jul 9, 2008
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